What do recruiters think of MBAs
The best business schools
Do you want an MBA of international standing? And are you ready to dig deep into your pocket? GEWINN shows what the best providers in Asia, Europe and the USA cost.
With its Executive MBA in cooperation with the Chinese HKUST Business School, Kellogg is the top address not only because of its geographical location on Lake Michigan. First place in the ranking (Photo: The Kellogg School of Management / Simeon Pratt)
When talking about MBAs (Master of Business Administration), it is mostly about famous American, English, French or Spanish providers. About the international flair, the shine of the high temple of knowledge - and of course how to get inside. Above all, one naturally howls in packs about the horrific fees of 30,000 to 182,000 euros for a corresponding degree.
In football, people like to say that money doesn't score goals. But that's not true, as Ronaldo and Messi have been proving week after week for over a decade. When it comes to an MBA, most recruiters say, “A postgraduate has to offer a large network with a good alumni club. So you have easier access to the right circles to get the good jobs. ”Some express it particularly drastically:“ An MBA is simply a building block in a career. ”Do you get more cash in return? Usually not, but it makes the job change and the international career easier. Anyone who stays in their old job in Hintertupfing, Austria and has spent so much money on the celebrity MBA has been a hobby.
Austrian MBAs without international reference have a hard time, especially with international companies, because they pay more attention to the type of MBA. But there are also exceptions who can demonstrate their excellent network with domestic industry, and some HR managers also believe that they can support such a degree if necessary by assuming the entire cost - which usually means that you will be able to spend at least two years afterwards must stay in the company. Or they pay a part and specifically support the time spent on studying.
Limak in Linz, for example, not only works closely with the university, it also belongs to an association made up of business and industry. She also tailors tailor-made joint programs with companies, especially when it comes to digitization.
The Executive Academy of the Vienna University of Economics and Business, on the other hand, does not have the domestic industry directly behind it, but it is the only domestic Executive MBA provider that can show that it has performed more and more often and better in international rankings. It also has triple crown accreditation, which (as of 2018) only 89 business schools worldwide were able to do.
Professional MBAs are for those who need this functional training and are very much geared towards the Austrian market and needs. They often or sometimes only take place as a full-time program, which then usually means a time commitment of around two semesters. The Executive MBAs are a step further. Here the emphasis is more on general management and internationality. It runs in English, many of the lecturers come from renowned international institutes, and they take place exclusively part-time and also professionally-related in four to five semesters.
The right program
If you want to go abroad, the international rankings are interesting as a small aid to decision-making. However, the criticism of these rankings is now getting louder and louder, as they are often based on criteria that are difficult to verify, such as satisfaction, salary jumps due to the MBA (EMBA and MBA cannot compete), the published dossiers or how much they were cited by others, etc. . based. Since these data are usually not made public by the authors of the rankings, the least criticized ranking of the FT - Financial Times was used here, only as a small help.
The more international the fellow students and teachers are, the better the international career network is usually. Of course, it is also an advantage if the provider has been on the market for a long time. It is important to take a close look at who has already brought the selected provider behind them, whether there are collaborations with companies and how culturally mixed the audience is - the stronger, the better. In addition, the language of instruction should be at least 80 percent English.
Is every applicant accepted or are there entrance exams? Internationally recognized exams, such as the English exams GMAT, Cambridge Certificate or Toefl-Test, are rarely a requirement in this country. But it is also interesting how much practical experience is required. If you don't need up to a maximum of two years, it is a "junior" MBA, and it is considered good further training. If three to five years of practical experience are required, the average age rises and is particularly interesting when it comes to the network.
Even if the costs of MBA programs differ considerably, an MBA degree usually represents a greater financial burden. The tuition fees alone can range from 30,000 to a hefty 182,000 euros or more (see table).
In addition to the tuition fees, you should also consider the cost of living when planning your financial situation. Depending on the duration of the program, location and distance, these can be a major financial challenge. If you study in a metropolis like London or New York, the usual cost of living increases many times over. What is it about: tuition fees, living costs, insurance, application costs including additional tests and preparatory courses, travel expenses, study material.
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